H.R. 1929 · 110th Congress
Save the Family Farm and Ranch Act of 2007
- Stage
- In committee
- Sponsor
- John Salazar
- Introduced
- 2007-04-18
- Latest action
- 2007-04-18 · Introduced in House
Summary
Save the Family Farm and Ranch Act of 2007 - Amends the Internal Revenue Code to exclude from the gross estate of a decedent the value of farmland used by an heir of the decedent for farming purposes. Imposes a recapture tax on an heir who disposes of such farmland after the decedent's death or who ceases to use it for farming purposes.